Category: Industry Trends

Spring 2017 Market Update

Spring is definitely here in full force, minus the sun.  Multiple offers on condos and houses continue to keep us busy and lenders on their toes. 4Front has expanded again adding a new full time in house underwriter to assist with our files.  We have a total of 16 brokers working with our clients to… Read more »

Guest Post – More Complex Mortgage Rules Boost the Value of Mortgage Brokers

value of mortgage brokers

This post is brought to you by our friends at CLMS, highlighting the complicated nature of the mortgage market and the greater needs of homebuyers and homeowners alike to lean on the expert advice of a professional mortgage experts. The last quarter of 2016 brought considerable change to Canada’s residential mortgage business. In October, the… Read more »

New CMHC Premiums: 2 Steps Forward, 1 Step Back?

New CMHC Premiums

CMHC raised their insurance premium rates on January 17th, 2017. These new CMHC premiums are seen as a direct consequence of the regulatory changes that OSFI (Office of the Superintendent of Financial Institutions) implemented in October 2016. Those changes already had immediate impact to non-bank lenders in the industry:  from tougher lender requirements, higher rates… Read more »

Latest Developments in the Canadian Housing Market – B2B Bank

canadian housing market

Thanks to our friends at B2B Bank for their economic outlook report. See more communications from B2B and Laurentian Bank here. With the new mortgage regulations in place, now is a good time to discuss the state of the Canadian housing market. Previous tightening in mortgage rules, including the reduction in the maximum amortization period… Read more »

Big Changes to Mortgage Requirements: How They Will Affect You

The Biggest Change: First Time Home-Buyers will Qualify for Less Buyers with less than 20% down payment will qualify for 20% less financing.  Previously a client could be qualified on the actual fixed mortgage rate they chose as long as that term was for 5 years or more.  If the term was less than 5… Read more »

Cooling the Market: Thoughts From the 4Front Team

Recently we have seen talk from all levels of government about the housing market. There is a consensus that the market may be a looming liability for the Canadian economy, and without a doubt it is a topic of conversation and concern for the average person. There is recent talk of increasing regulations and other… Read more »

10 Things to Know About B.C.’s New Budget Including Property Transfer Tax

In a bid to make home ownership within reach of more British Columbians, the B.C. government is giving a tax break to buyers of new homes worth up to $750,000. Here are 10 things you should know about yesterday’s announcement. 1.  Buyers of newly-built homes, condos and townhouses worth up to $750,000 will be exempt… Read more »